blockchainreporter
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise
No Result
View All Result
BET NOW
blockchainreporter
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise
No Result
View All Result
blockchainreporter
BET NOW
No Result
View All Result
Bitcoin
BTC
1d:
7d:
Ethereum
ETH
1d:
7d:
Polkadot
DOT
1d:
7d:
Solana
SOL
1d:
7d:
Ripple
XRP
1d:
7d:
Shiba INU
SHIB
1d:
7d:

Solv Protocol’s Proposed ERC-3525 Denoting Semi-Fungible Tokens Gets Approved Today

Umair Younas by Umair Younas
September 6, 2022 - 12:41 pm
in defi news, nft news
0
Solv Protocol
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Solv Protocol, the pioneer of financial non-fungible tokens (NFTs), introduced the Initial Voucher Offering (IVO) at the end of the previous year. With this move, the platform turned into the earliest project based on Web3 technology to introduce the concept of the semi-fungible token within the DeFi ecosystem. On 3rd September, this year, the conclusive publicity period of the standard draft of ERC-3525 ended, signifying its adoption across the industry.

ERC-3525 of Solv Protocol Approved Today to Provide More Options Post-Merge

It is also considered that the initial token standard approved following Ethereum’s upcoming upgrade will be ERC-3525. It will represent semi-financial bonds – which are suitable for vesting plans, insurance policies, bonds, and financial instruments. Today, ERC-3525 got approved. Dissimilar to the majority of the unique specialized and little standards, the span of ERC-3525 is bigger and has been structured by the team of Solv Protocol.

ERC-3525 counts as an exclusive asset class, semi-fungible tokens, having the same scale as ERC-721 and ERC-20, along with FT assets. It is presently available for many billion dollars. In 2018, a non-fungible token market was initiated by ERC-721 and the valuation of the NFT those NFT assets is nearly billions of dollars. The fungible tokens are interchangeable based on their identical nature.

This term is straightly linked to the physical world-based value units such as common stocks and currencies. In 2015, at the point of the establishment of Ethereum, the founder of the platform – Vitalik Buterin – suggested the fungible tokens’ implementation via smart contracts. Then in November of the same year, the ERC-20 standard was proposed by Fabian. In the next year, the status of being the most broadly utilized and renowned standard for digital tokens was occupied by ERC-20, starting a wide industry of several hundred billion dollars.

Solv Protocol

Apart from that, the non-fungible tokens (NFTs) are not identical to FTs. Each of them has unique characteristics and is irreplaceable. Fungible tokens represent abstract quantity units whereas the non-fungible tokens denote concrete digital items like game equipment, music, domain names, virtual artwork, and so on. To signify distinctiveness, a unique ID is possessed by each NFT based on the serial number and address of the contract as well as metadata.

ERC-721 is considered to be the chief standard for non-fungible tokens, proposed on the behalf of William Entriken along with 3 others in January 2018. The earliest 3 years after the start of the non-fungible token industry were probably of obscure support. Until the previous year, the crypto artworks’ progress let the NFT market surge rapidly. The initial 5 months of this year witnessed the incorporation of up to $36B via non-fungible tokens.

ERC-3525 Standard Can be Easily Split, Calculated, and Merged with Flexibility

ERC-3525 is specified for the construction of diverse innovative financial assets like asset-backed securities, fund shares, insurance contracts, swap contracts, futures, options, bonds, exchange bills, deposit certificates, and so on. These tokens can be easily calculated, merged, and split, with flexibility just like a fungible token.

Tags: CryptoDeFiEcosystemETHEthereumNFTWeb3
ShareTweet
Umair Younas

Umair Younas

Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.

Recommended For You

Enzyme Finance Starts Supporting Supply to the Liquidity Pools on Aave V3

by Umair Younas
June 6, 2023 - 1:40 pm
0
enzymeaavev

As per Enzyme Finance, this development will play the role of a significant contributor in the case of effective transfers of funds.

Read more

Binance NFT Marketplace Announces Support for Bitcoin NFTs, Streamlining Transactions Straight from Wallet

by Shayan Chowdhury
June 6, 2023 - 11:51 am
0
Binance

Binance NFT Marketplace now supports Bitcoin NFTs, enabling direct transactions from users' Binance accounts, simplifying trading and expanding possibilities.

Read more

SushiSwap Announces a Collaboration with ThunderCore to Innovate the Web3 Gaming Sector

by Umair Younas
June 6, 2023 - 11:15 am
0

The integration between SushiSwap and ThunderCore attempts to enable liquidity providers (LPs) to eagerly predict boosted APRs.

Read more

HAVAH Collaborates with Digital Art Gallery Forum 3space Art

by Umair Younas
June 6, 2023 - 10:00 am
0
havah 3space art

HAVAH and 3space Art's latest partnership attempts to achieve several goals however the major objective deals with opportunities to facilitate artists.

Read more

Whales Stand with Binance as Deposit Surges Amid SEC Lawsuit

by Shayan Chowdhury
June 6, 2023 - 9:50 am
0
whale

Amid the SEC lawsuit-induced outflow from Binance, whale investors and crypto firms have deposited funds, showing support and aiding stability. 

Read more
Next Post
Ethereum

Mining CEO Thinks Ethereum Merge Will Shift Miners To Other Blockchain Projects

PARTNERS LIST

  • sp
  • Coingecko

PRESS RELEASE

BJaoVqYT

BinaryX and AiGC Labs Developing First AI-Powered Virtual Reality Game on the Metaverse

by Chainwire
June 7, 2023 - 4:06 am
0

Singapore, Singapore, June 7th, 2023, ChainwireBinaryX today announced their plans to expand into Virtual Reality (VR) and Artificial Intelligence Game...

CatalystiuGIbVuck

CoinMarketCap Web3 Conference “Catalyst” Early-Bird Registration Now Open

by Chainwire
June 6, 2023 - 4:48 pm
0

London, United Kingdom, June 6th, 2023, ChainwireCoinMarketCap’s flagship Web3 conference "Catalyst" has opened early-bird registration. The conference will take place...

blockchain wave conference

Blockchain Wave 2023

by Max Clark
June 6, 2023 - 2:47 pm
0

Blockchain Wave 2023: Join us in Antalya, Turkey for the biggest annual blockchain summit, featuring industry-leading speakers, and innovative startups.

photox

Coinbase and OpenSea Struggle to Keep up with HedgeUp (HDUP) Asset Backed NFT Platform

by Max Clark
June 6, 2023 - 12:29 pm
0

Explore HedgeUp's (HDUP) innovative asset-backed NFT platform that's reshaping digital assets and challenging leaders like Coinbase and Opensea.

n

BlockchainReporter is a trusted name in the cryptocurrency and blockchain technology news space, keeping its readers abreast of the latest and most significant trends in the industry.

Here at BlockchainReporter, our team of global writers is dedicated to providing price analysis on leading cryptocurrencies and covering the latest developments pertaining to bitcoin news, altcoins news, blockchain news, NFT news and cryptocurrency adoption news from around the world.

News

  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • Adoption
  • NFT
  • DeFi
  • Metaverse

Info

  • Education
  • Glossary
  • Market
  • Press Release

Company

  • About Us
  • Terms & Conditions
  • Advertise
  • Sitemap
  • Contact

@2022 – Blockchainreporter.net. All Right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise